TOP 50 MOST FUNDED DIGITAL STARTUPS IN ASEAN IN 2018
1. Singapore – GRAB ($5.8 billion)
Grab is Southeast Asia’s leading ride-hailing platform that offers the fastest booking service for taxis, private cars and motorbikes through one mobile. Their go-to-market strategies and campaign have successfully garnered countless users across 6 countries in less than four years.
2. Singapore – Sea (Garena) ($2.0 billion)
Garena is a leading platform provider for online PC and mobile digital content in Southeast Asia and Taiwan, as well as the exclusive operator in the region for popular titles such as League of Legends, FIFA Online 3, Point Blank, Blade & Soul and Arena of Valor.
3. Indonesia – Tokopedia ($1.1 billion)
Tokopedia’s mission is to democratize commerce through technology. Since its founding in 2009, Tokopedia has been a force that pioneers digital transformation in Indonesia.
4. Malaysia – Jobstreet ($586 million)
Jobstreet is one of Asia’s leading online employment marketplaces. Helping facilitate the matching and communication of job opportunities between jobseekers and employers, in Malaysia, Philippines, Singapore, Indonesia and Vietnam.
5. Indonesia – Go-Jek ($585 million)
GO-JEK is the largest on-demand service provider that provides a variety of complete services starting from transportation, logistics, payment, food delivery, and other on-demand services, by connecting users to more than 1 million driver partners, more than 200,000 food vendors, and more than 30,000 other service providers.
6. Indonesia – Traveloka ($500 million)
Traveloka is a technology company based in Jakarta, Indonesia. Founded in 2012 by ex-Silicon Valley engineers and aims to revolutionize human mobility with technology. Today Traveloka is expanding its reach by operating in six countries and experimenting with new endeavors that will create large impact in the markets and industries we touch.
7. Singapore – AirTrunk ($307 million)
AirTrunk is the technology company powering the companies transforming the world as we know it. AirTrunk designs, builds and operates hyperscale data centres that are more cost-efficient, scalable and available.
8. Singapore – Bigo ($272 million)
Founded in March 2016 and headquartered in Singapore, BIGO Technology is an innovative internet company providing video-based service. Its product portfolio includes BIGO LIVE, LIKE, Hello and Cube TV, covering from live-streaming, video editor, to social community.
9. Malaysia – iflix ($223 million)
iflix is the world’s leading entertainment service for emerging markets with the widest and most compelling selection of TV shows, movies, hyper local originals, premium live sports and up-to-the-minute news from around the world, to stream or download, on any internet connected device…wherever, whenever.
10. Singapore – Trax Image Recognition ($208 million)
Trax is a technology company headquartered in Singapore, with offices throughout APAC, Europe, Middle East, North America and South America. Its computer vision technology is used by FMCG companies such as Coca-Cola and retailers to collect, measure and analyse what is happening on physical shelves.
11. Indonesia – MatahariMall ($142 million)
MatahariMall.com, fashion e-commerce powered by The Lippo Group offers a range of fashion-related and everyday wear. The company provides high quality products for womenswear, menswear, kidswear, accessories, bag, footwear, beauty equipment, everything from head to toe. With the support of its ecosystem, MatahariMall.com is designed to revolutionize the online and offline shopping (O2O) experience across Indonesia by utilizing E-Kiosk, E-store and Happy Box.
12. Singapore – Carousell ($120 million)
Carousell is a classifieds marketplace that makes selling as easy as taking a photo, buying as simple as chatting. Our mission is to inspire every person in the world to start selling and buying to make more possible for one another.
13. Singapore – MyRepublic ($112 million)
One of the fastest growing telecom operators in Asia-Pacific, MyRepublic is the world’s first telco powered by its own proprietary cloud-based TelcoTech platform. Headquartered in Singapore, MyRepublic has operations in Indonesia, New Zealand, and Australia, applying its uniquely scalable and centralised cloud framework to seamlessly deliver layered telecommunications services.
14. Indonesia – PT Indo Lotte Makmur (iLOTTE) ($100 million)
iLOTTE is presented by PT Indo Lotte Makmur, a joint venture company of Salim Group and LOTTE Group. iLOTTE is the first e-commerce company in Indonesia offering a mall-in-mall concept. We deliver our services based on a trusted and easy platform, that can be accessible through mobile and desktop.
15. Singapore – HOOQ ($95 million)
HOOQ was born in January 2015, with a mission to “tell a million stories for a billion people” . And, we do love great stories. Not the run of the mill “cat videos” , but great, compelling stories – the kind you love and remember. The best of local TV and film, and Hollywood…. all in one place. Delivering over 10,000 hours of the best local, Hollywood and HOOQ Originals content to customers anytime, anywhere.
16. Singapore – Ninja Logistics (Ninja Van) ($87 million)
Launched in 2014, Ninja Van started operations in Singapore to address the logistics needs of customers by offering them options of tracking their parcels, receiving real-time updates and gaining access to alternative pickup points. Recognising that consumers across SEA want a consistent experience regardless of where they buy from (domestic and/or international) and clients want a singular access point into the region, Ninja Van decided to expand our network to cover SEA.
17. Singapore – TenX ($81 million)
TenX, essentially, is a cryptocurrency wallet that enables users to actually spend their cryptocurrency on cash, which helps the currency achieve its intended goal of participating in the global economy instead of just another speculative market.
The wallet’s use in real-life is often bolstered by its physical Visa card launched in 2017, allowing for cryptos to be used in places that wouldn’t otherwise accept them, though the conversion model and costs are currently undisclosed.
18. Singapore – Tessa Therapeutics ($80 million)
Tessa Therapeutics is a clinical stage biopharmaceutical company with the scientific vision of revolutionizing the treatment of cancer by redirecting the body’s potent anti-viral immune response to recognize and kill cancer cells. Tessa’s core virus-specific T cell (VST) platform has shown compelling results in the treatment of solid tumors, and the company is building a portfolio of therapies addressing a wide range of tumors by combining the qualities of its T cell platform with complementary technologies.
19. Singapore – SunSeap ($80 million)
Sunseap is Singapore’s largest clean energy provider. Incorporated in 2011, Sunseap’s proven solar solutions to diversify the energy portfolio through cost competitive models and strategies.
Sunseap provides a one-stop service to clean energy solution, which encompasses elements such as funding, development, designing, engineering and construction. Sunseap’s unique positioning as both a licensed Electricity Wholesaler and Electricity Retailer under the Energy Market Authority (EMA); has enabled it to develop its 2 business models, solar leasing and clean electricity supply.
20. Singapore – Zilingo ($79 million)
Since being founded in 2015 by former McKinsey consultant Ankiti Bose, and ex-Yahoo engineer Dhruv Kapoor, Zilingo has advanced from being a purely online marketplace, to an all-encompassing ecosystem that unlocks value across the supply chain. Our businesses include B2C & B2B Marketplace, Private Label as a Service, E-POS & Inventory Management, Trend Forecasting and Fintech. Each business complements the other, creating compounding benefits for the platform.
21. Singapore – M17 Entertainment ($75 million)
M17 provides a brand new mode of communication. No matter who you are, or which corner of the world you reside in, you can connect with anyone through M17’s media platform to showcase your talents and passions, realize your dreams, and construct your own infinitely wonderful life.
22. Singapore – Carro ($72 million)
Carro is an automotive marketplace that offers a full-stack service for all aspects of car ownership. By offering a trustworthy and transparent experience, Carro challenges the traditional way of buying and selling cars through a proprietary pricing algorithm.
Besides buying and selling of cars, Carro provides services that offer a car owner everything they need throughout their car ownership journey. Carro’s automotive ecosystem of services are the first of its kind and leverages on innovation and technology to provide consumers with a seamless experience.
23. Singapore – Mobile Credit Payment ($67 million)
Mobile Credit Payment Pte Ltd, founded in 2005, is an epayment company headquartered in Singapore. The company works with acquiring banks and solution providers to offer merchants a secure and compliant processing platform. At present, MC Payment has offices in Singapore, Malaysia, Indonesia, Hong Kong, Thailand, Sri Lanka and Australia.
24. Thailand – aCommerce ($65 million)
aCommerce is the largest brand ecommerce platform & service provider that offers end-to-end and ala carte ecommerce solutions for brands in Southeast Asia (Thailand, Indonesia, Singapore, the Philippines, and Malaysia). aCommerce offer ecommerce consulting, digital marketing, IT development, store ops, customer care, fulfillment and delivery. aCommerce developour core technology in-house on one integrated and end-to-end platform to make ecommerce easy for brands in Southeast Asia.
25. Malaysia – MOL (Money Online) ($61 million)
MOLPay is leading payment gateway in Southeast Asia to offer global cards payment for merchants to sell online. Founded in year 2005 as NBePay, was then re-brand to MOLPay in August 2011. MOLPay is part of MOL Global Group, one of the largest Internet company gorup in South East Asia.
26. Singapore – Qtum ($52 million)
Qtum is a hybrid blockchain application platform. Its core technology combines a fork of bitcoin core, an Account Abstraction Layer allowing for multiple virtual machines, including the Ethereum Virtual Machine (EVM), and a Proof-of-stake Consensus protocol, aimed at tackling industry use cases. The Qtum Foundation, headquartered in Singapore, is the decision-making body that drives the project’s development.
27.Singapore – KyberNetwork ($52 million)
Kyber’s on-chain liquidity protocol powers decentralized atomic swaps and transactions between applications and ecosystems. By allowing open contribution of liquidity from token holders and simple integration by DApps and projects to access the liquidity pool, we enable a more connected tokenized world where any token is usable anywhere.
28. Singapore – Advance.AI ($50 million)
ADVANCE.AI is a data-driven financial technology company with multiple offices in Singapore, Beijing, Jakarta and Chongqing. In our quest to build a better financial world, one of our key goals is to revolutionize the credit system by creating a more holistic, accurate, and democratic alternative to existing credit scoring methods.
29. Singapore – Singapore Life (Singlife) ($50 million)
Singapore Life is a life insurance company fully licensed by the Monetary Authority of Singapore – built on the belief that the world needs a better life insurer which uses technology to provide a better insurance experience. Singapore Life offers high net worth universal life solutions for those that prefer Singapore and the Singapore regulatory environment as a destination for their wealth and protection needs.
30. Singapore – Art of Click ($45 million)
Based in Singapore, Art of Click is the fastest growing mobile advertising agency in Asia Pacific. We offer performance and branding campaigns to brands, agencies, app developers, games and content providers. Art of Click has changed the way mobile advertising is marketed today through its high quality mobile campaigns for advertisers, developers and publishers. Our pricing models include CPI, CPA, CPM, CPD, CPL, CPR, CPS, but we can also customize our revenue models according to your needs.
31. Singapore – oBike ($45 million)
oBike is a dock-less bike sharing services platform, allowing everyone to take short trips within the city while promoting a green and car-lite society. As a global leading internet and technology corporate, our goal is to make the city life more intelligent and convenient by developing the world-wide open sharing traffic service platform. oBike has expanded its business to 24 countries in 11 months. oBike has also developed the Global Business Partnership Program in order to make the bike-sharing business in each country more sustainable, scalable and profitable.
32. Vietnam – Tiki.vn ($44 million)
Tiki.vn is Vietnam’s fastest and most trusted B2C e-commerce platform. Tiki is well-known for its unique TikiNow service (2-Hours Delivery), world-class customer service with 80+ NPS score, and a diverse catalogue of 100% authentic products from 6,500 brands, in categories such as Consumer Electronics, Lifestyle, Fashion, Books, etc.
In 2017, Tiki was among the “Ten Companies with the Biggest Influence on the Development of Vietnam’s Internet” as selected by the Vietnam Software and IT Services Association. Tiki had received investments from VNG, Seedcom, Sumitomo, CyberAgent Ventures previously to fuel its growth.” as selected by the Vietnam Software and IT Services Association.
33. Indonesia – PT MCash Integrasi ($43 million)
M Cash Integrasi is a IT service management company.
34. Singapore – aelf ($40 million)
aelf is a decentralized self-evolving cloud computing network. To establish a Blockchain infrastructure for various commercial requirements, aelf provides a highly efficient multi-chain parallel-processing system with cross-chain communication and self-evolving governance.
35. Philippines – Cogito ($37 million)
InnoVantage is a software and design startup based in Makati, Philippines.InnoVantage’s first product is Cogito, a cloud workflow solution.
36. Singapore – iCar Asia ($37 million)
Listed on the Australian Securities Exchange, iCar Asia (ASX:ICQ) owns and operates ASEAN’s No. 1 network of automotive portals. Headquartered in Kuala Lumpur, Malaysia, we are focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand. iCar Asia is continuously working to capitalise on its market-leading positions in the rapidly growing online automotive advertising market throughout the region. Our online properties currently reaches over over 7 million people every month across the 3 countries
37. Singapore – Wanchain ($36 million)
Wanchain is a unique public blockchain with inter-chain transactions and privacy protection. Wanchain has its own protocol for inter-chain transactions, which is based on locked account and threshold signature. With it, wanchain can support multi-assets trading.
38. Indonesia – Pundi X ($35 million)
Pundi X is a multi-cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies in the world. Pundi X POS enables shops, cafes and convenience stores to facilitate cryptocurrency transaction for the average consumers.
39. Malaysia – Frontier Digital Ventures ($34 million)
Founded in May 2014 and headquartered in Kuala Lumpur, Frontier Digital Ventures is focused on becoming the world leader in online classifieds businesses in frontier markets. We are experts in the online classifieds space with a particular focus on property and automotive verticals and general classifieds websites, and we are proud of our amazing track record in building and supporting great companies.
40. Singapore – Funding Societies ($32 million)
Funding Societies is a regional P2P lending player operating in Singapore, Indonesia and Malaysia. The company was founded by Kelvin Teo and Reynold Wijaya who were both Harvard graduates. Funding Societies operates in Indonesia under the name Modalku.
41. Singapore – Paktor ($32 million)
Founded in 2013 with the mission of connecting singles in Asia through technology-enabled platforms, Paktor dating app has expanded beyond Singapore to the rest of Southeast Asia and North Asia, to form the largest social dating group in the region. Along with its other acquisitions, which includes a controlling stake in Taiwan live streaming company 17 Media and other social dating apps such as Goodnight, the group’s social entertainment and dating assets jointly account for over 50 million users in Asia.
42. Singapore – Republic Protocol ($31 million)
Republic Protocol is an open source decentralized dark pool exchange that facilitates cross-chain atomic trades on a hidden order book over the Ethereum and Bitcoin networks. The system creates a trustless trading system for large block orders enabling ERC-20, Ethereum and Bitcoin pairs to be executed with minimal price slippage and provides protection from front-running.
43. Thailand – Zimplistic (Rotimatic) ($30 million)
Zimplistic’s flagship product, Rotimatic is the world’s first and only fully automated, IoT and AI enabled kitchen robot that measures, kneads, rolls, cooks and puffs perfectly round flatbreads, every single time. It takes away the hassle of making flatbreads with hands and allows users to get creative without compromising on health.
44. Thailand – Pomelo Fashion ($30 million)
Pomelo is a leading international online fashion company based in Bangkok. Products are proudly designed and produced around Asia for today’s global consumer.
45. Indonesia – FinAccel (Kredivo) ($30 million)
FinAccel is a financial technology company that leverages deep data analytics across users’ digital footprint to automate credit risk scoring and access to credit in Southeast Asia, the 7th largest economy in the world. FinAccel’s flagship product, Kredivo “Buy now, Pay later”, enables e-commerce buyers to apply and qualify for instant credit and pay back over time. Merchants using Kredivo benefit from providing Point of Sale financing using a 2-click checkout to all eligible buyers.
46. Singapore – Cloud Alliance ( $30 million)
CloudMoolah, is a payment aggregator integrated within the Unity Technologies’ game development software and is offered alongside other in-app-purchase (IAP) products from technology giants such as Apple, Google, Amazon, Facebook, Xiaomi and Samsung. Unity is the world’s leading game development engine behind blockbuster games like Pokemon Go, Honor of Kings and Hearthstone
47. Singapore – Electrify ($30 million)
ELECTRIFY is the next evolution in electricity retail and decentralized power production. Started by two senior executives from the energy industry, ELECTRIFY is Singapore’s first retail electricity marketplace. With the liberalisation of the energy market in Singapore, consumers can now choose how they want to buy electricity—from cheaper prices to renewable sources; bundled deals to power-saving offers.
48. Singapore – tryb ($30 million)
Tryb Group is a fintech platform focused on bringing global capital markets closer to underserved ASEAN consumers. It operates primarily as an umbrella company by taking stakes in promising businesses and buying up others via acquisitions.
49. Singapore – C88 (CekAja, eCompareMo, Premiro) ($28 million)
C88 is one of the largest financial technology companies in Southeast Asia, having served over 20 million customers in Indonesia and The Philippines since its founding. C88 owns and operates high-traffic, licensed and regulated, transactional financial e-commerce websites that offer retail and small business consumers an integrated financial education, shopping and application experience for all financial asset, liability, insurance and investment product categories. C88 also creates technological managed solutions; credit data and risk solutions; and big data, machine learning, and deep learning solutions that are customized for the needs of Southeast Asia’s financial institutions.
50. Indonesia – Sale Stock ($27 million)
Sale Stock is a tech startup that leverages Artificial Intelligence to give access to affordable quality clothing to the next billion of people.
Funding Sources: Crunchbase, Techinasia, Websites, Holandfintech report